Click on our Secret Library of Evidence ------>

    BANKILEAKS Secret Library

Loan Application Forms (LAF's)  

    Bank Emails to Brokers  

    Then Click on 'VIEW NOTEBOOK'

Join us on facebook

facebook3           facebook2 


What BFCSA Does...

BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.


Articles View Hits

Whistleblowers' Corner!

To all mortgage brokers, BDMs and loan approval officers! 
Pls Call Denise: 0401 642 344 

"Confidentiality is assured."

Cartoon Corner

Lighten your load today and "Laugh all the way to the bank!"

Lee Doyle

Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

Click on the Cluster Map.

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Login
    Login Login form

Former Commonwealth planner banned for forging signatures

Posted by on in From My Window
  • Font size: Larger Smaller
  • Hits: 1628
  • Print


ASIC has accused this former adviser of forging client signatures on numerous documents, amongst a litany of other allegations.

Ricky David Gillespie, of Southport, Queensland, who was a senior financial planner for Commonwealth Financial Planning Limited (CFPL) between 2006 and 2009, has now been banned from providing any financial services.

Following an investigation into his activities, ASIC found that, between 2008 and 2009, Gillespie:

  • failed to comply with financial services laws;
  • forged clients’ signatures on documents such as a direct debit request, transaction without advice documents, confidential fact finder and financial services guide receipts;
  • created false file notes;
  • engaged in misleading and deceptive conduct in issuing financial product information in the form of a marketing letter which contained representations that were false or misleading;
  • provided advice to a client that was not appropriate in the circumstances; and
  • charged excessive fees.

“ASIC considers Mr Gillespie’s conduct to be serious. Mr Gillespie’s wrongdoing was not an isolated incident. Instead Mr Gillespie engaged in a series of conscious and deliberate acts designed to disguise and conceal his non-compliance with statutory requirements and policies put in place by CFPL,” said ASIC commissioner Peter Kell.

“ASIC will continue to take action and remove advisers who breach community trust.”

Noting that this is the latest of a string of enforcement actions against former CFPL financial advisers, ASIC has stated that this latest ban reflects its commitment to ensuring financial advisers meet required standards to maintain consumer confidence in the financial services system.

Six former CFPL financial advisers – Don Nguyen, Simon Langton, Christopher Baker, Anthony Awkar, Jane Duncan and Joe Chan – have already been subjected to permanent or temporary bans.

ASIC has already accepted an enforceable undertaking from CFPL – submitted in October 2011 – requiring the group to review its risk management framework and address deficiencies. Additionally, where clients are found to have been adversely impacted by the conduct of representatives, CFPL will consider the circumstances and appropriately remediate the client.

Most of Gillespie’s impacted clients have already been compensated by CFPL.

Gillespie has appealed to the Administrative Appeals Tribunal (AAT) for a review of ASIC’s decision. An order made by the AAT staying ASIC’s decision was lifted following a hearing by the AAT on 8 November 2012.

Last modified on
Rate this blog entry:


  • doyla66
    doyla66 Monday, 12 November 2012

    This sounds exactly like what the broker & bank did with our Loan Docs. We have reported it to the police for criminal fraud. The Criminal Investigations Branch are investigating. They have taken copies of all of the documents & are taking statements before they get warrants.

  • doyla66
    doyla66 Tuesday, 13 November 2012

    “ASIC will continue to take action and remove advisers who breach community trust.”

    But ASIC won't touch Banks - much too scarey for ASIC and Government!

Leave your comment

Guest Saturday, 29 February 2020